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...lent vast sums of money to developers as property fever gripped the newly wealthy nation. But when the bubble burst with the global meltdown last year, these unpaid loans left huge holes in the banks' books and the liberal lending of the Celtic Tiger era came to an abrupt halt. To steady the ship, the government placed a blanket guarantee on deposits in six Irish banks last September. At the time, according to Finance Minister Brian Lenihan, it was "the cheapest bailout in the world." But that claim soon came back to haunt him. In December it emerged that Sean...

Author: /time Magazine | Title: Irish Angry Over Big Bailout of the Country's Banks | 10/26/2009 | See Source »

...Once the refined wheels of military justice begin to turn, there's still a risk they could grind to a halt. Many of Gitmo's detainees are charged with material support for terrorism or terrorist groups, one of the offenses Congress set aside for the commissions, as it did in 2006. But such offenses have not been recognized as war crimes by the Geneva Convention, nor have they been brought before military tribunals before. Administration legal officials have expressed concern that civilian appeals courts would reverse hard-won convictions on grounds that material support offenses should not have been tried...

Author: /time Magazine | Title: Military Tribunals Make Closing Gitmo a Tough Goal | 10/21/2009 | See Source »

...when President Clinton and a Republican Congress altered the complicated formula that dictates Medicare payments. At the time, the so-called sustainability growth rate (SGR) was depegged from inflation to wage growth. That was fine with doctors until the recession hit and wage growth ground to an abrupt halt, posing the threat of real cuts to their Medicare reimbursements. To prevent that from happening to a constituency no politician likes to alienate - or, worse, having doctors cut services to patients - Congress in 2003 passed a one-year spending patch to fix the problem; six fixes later, that "temporary" solution...

Author: /time Magazine | Title: Latest Threat to Health Reform: Docs' Reimbursement | 10/21/2009 | See Source »

...Abdullah is considered the much more likely outcome. But in reality, the manner in which the electoral stalemate is resolved doesn't substantially alter the basic choice facing Obama: either send tens of thousands more U.S. troops, which U.S. commander General Stan McChrystal says are necessary simply to halt the Taliban's advance, or draw down to a policing operation against al-Qaeda and abandon the goal of defeating the Taliban...

Author: /time Magazine | Title: Is Escalation Obama's Only Choice in Afghanistan? | 10/20/2009 | See Source »

Gilchrist is not unaccustomed to controversy. In 2006, a speech he was delivering at Columbia University came to a halt after students in the audience stormed the stage with banners and knocking over tables and chairs in protest...

Author: By Jacob D. Roberts, CONTRIBUTING WRITER | Title: Anti-Illegal Alien Speaker Banned | 10/19/2009 | See Source »

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